UNITED STATES
SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549
FORM 24F-2
Annual Notice of Securities Sold
Pursuant to Rule 24f-2
Read instructions at end of Form before preparing Form.
1. Name and address of issuer: USAA MUTUAL FUND, INC.
10750 Robert F. McDermott Freeway
San Antonio, Texas 78288
2. Name of each series or class of securities for which this Form is filed:
(If the Form is being filed for all series and classes of securities of
the issuer, check the box but do not list series or classes):
S&P 500 Index Fund
3. Investment Company Act File Number: 811-2429
Securities Act File Number: 2-49560
4a. Last day of fiscal year for which this Form is filed:
December 31, 1997
4b. Check box if this Form is being filed late (i.e., more than 90 calendar
days after the end of the issuer's fiscal year). (See Instruction A.2)
NOT APPLICABLE
Note: If the Form is being filed late, interest must be paid on the
registration fee due.
4c. Check box if this is the last time the issuer will be filing this Form.
NOT APPLICABLE
5. Calculation of registration fee:
(i) Aggregate sale price of securities sold
during the fiscal year pursuant to section
24(f) [includes reinvested dividend]: $434,874,730
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(ii) Aggregate price of securities redeemed
or repurchased during the fiscal year: $ 82,142,783
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(iii) Aggregate price of securities redeemed
or repurchased during any prior fiscal
year ending no earlier than October 11,
1995 that were not previously used to
reduce registration fees payable to the
Commission: $ 0
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(iv) Total available redemption credits
[add Items 5(ii) and 5(iii): - $ 82,142,783
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(v) Net sales - if Item 5(i) is greater than Item
5(iv) [subtract Item 5(iv) from Item 5(i)]: $352,731,947
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__________________________________________________________________________
(vi) Redemption credits available for use in future
years $ ( )
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--if Item 5(i) is less than Item 5(iv)
[subtract Item 5(iv) from Item 5(i)]:
__________________________________________________________________________
(vii) Multiplier for determining registration fee
(See Instruction C.9): x 0.000295
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(viii) Registration fee due [multiply Item 5(v) by
Item 5(vii)] (enter "0" if no fee is due): = $ 104,055.92
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6. Prepaid Shares
If the response to item 5(i) was determined by deducting an amount of
securities that were registered under the Securities Act of 1933
pursuant to rule 24e-2 as in effect before October 11, 1997,
then report the amount of securities (number of shares or other units)
deducted here: ____________. If there is a number of shares or other
units that were registered pursuant to rule 24e-2 remaining unsold
at the end of the fiscal year for which this form is filed that are
available for use by the issuer in future fiscal years, then state
that number here: ________________.
7. Interest due -- if this Form is being filed more than 90 days after the
end of the issuer's fiscal year (see Instruction D): + $ 0
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8. Total of the amount of the registration fee due plus any interest due
[line 5(viii) plus line 7]: = $104,055.92
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9. Date the registration fee and any interest payment was sent to the
Commission's lockbox depository: February 20, 1998
Method of Delivery:
__X__Wire Transfer
_____Mail or other means
SIGNATURES
This report has been signed below by the following persons on behalf of the
issuer and in the capacities and on the dates indicated.
By (Signature and Title)* Sherron Kirk, Treasurer
Date February 24, 1998
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* Please print the name and title of the signing officer below the signature.
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